"Security, maintenance" ("Maintenance security") means a cash deposit, surety bond, assignment of funds, escrow agreement, irrevocable letter of credit, or other financial security device acceptable to the director, received from the applicant to ensure that the improvements and work completed and accepted by the department under this title are maintained by the applicant for the duration of the time specified in accordance with the approved plans, specifications, permit or approval requirements or conditions, and all applicable federal, state, and local laws, regulations and policies. (Added by Amended Ord. 02-064, Dec. 9, 2002, Eff date Feb. 1, 2003).